SOLUTION: 5,000/(1+r)to the fifth power equals $3917.63. Please help solve for r. Money to invest = $3917.63 term is 5 years yield sum of $5,000 what is interest rate

Question 212457: 5,000/(1+r)to the fifth power equals $3917.63. Please help solve for r.
Money to invest = $3917.63
term is 5 years
yield sum of $5,000
what is interest rate
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
5,000/(1+r)to the fifth power equals $3917.63. Please help solve for r.
---------------

1+r = 1.05
r = 5%

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